NET ASSET VALUE INCREASES BY € 2,198 MILLION
Net income of HAL Holding N.V. ('HAL'or the "Company") for 2024 amounted to € 1,210 million (€ 13.39 per share) compared with € 1,001 million (€ 11.07 per share) for 2023.
The net asset value based on the market value of the quoted companies and the liquid portfolio and on the book value of the unquoted companies, increased by € 2,198 million in 2024. After taking into account the dividend over 2023 (€ 258 million) and the purchase of treasury shares (€ 2 million), the net asset value amounted to € 15,501 million (€ 171.61 per share) on December 31, 2024, compared to € 13,563 million (€ 150.12 per share) on December 31, 2023.
The increase in net asset value is primarily due to the increase in the share price of Vopak, SBM Offshore and Technip Energies (combined effect € 1.2 billion) and earnings from Boskalis (effect € 0.7 billion).
Dividend
The dividend policy is, barring unforeseen circumstances and provided sufficient liquid assets, to base the dividend (in cash) on 2.5% of the volume-weighted average December share price of HAL Trust in the year prior to the year of the dividend payment. The proposed cash dividend per share over 2024 amounts to € 2.90 (2023: € 2.85).
Prospects
Due to the fact that a significant part of the Company's net income is determined by the results of the quoted companies and in view of the broad composition of the investment portfolio as well as potential capital gains and losses, we generally do not express expectations with respect to net income. During the period from December 31, 2024, through March 21, 2025, the market value of the ownership interests in quoted companies and the liquid portfolio was positively impacted by changes in market prices for approximately € 160 million (€ 1.77 per Share).
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